CIGI vs VXX: Correlation
Measured on weekly returns over the past three years, Colliers International Group Inc. - Subordinate Voting (CIGI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIGI and VXX?
On 3 years of weekly data the CIGI/VXX correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. The 5-year figure is -0.38, and annualized covariance runs at -745.2 %².
Out of 14 assets tracked against CIGI, VXX lands near the bottom at #13. On 12-month performance CIGI holds a 11.8-point edge, -37.9% against -49.7%. Risk is not evenly split, since VXX carries 2.0 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CIGI vs VXX: side by side
| CIGI (Colliers International Group Inc. - Subordinate Voting) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.9% | -49.7% |
| 5-year return | -24.2% | -95.6% |
| Volatility (ann.) | 30.6% | 60.9% |
| Beta vs S&P 500 | 0.98 | -3.31 |
| Max drawdown (3Y) | -47.5% | -83.3% |
| Market cap | $5.3B | – |
| P/E (trailing) | 48.8 | – |
| Dividend yield | 0.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIGI | VXX |
|---|---|---|
| 2022 | -37.9% | -23.8% |
| 2023 | +37.8% | -72.5% |
| 2024 | +7.7% | -26.2% |
| 2025 | +8.4% | -42.2% |
| 2026 | -29.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIGI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between CIGI and VXX?
The CIGI/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.38, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CIGI?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cigi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cigi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CIGI correlations · VXX correlations
